ESS Tech, Inc. reported a significant shift toward its energy-based platform, with a major pilot project announced alongside an important capital raise, setting the stage for future growth.

• Revenue for Q3 2025 was $200,000, down from $2.4 million in Q2, reflecting the transition to the new energy-based platform.
• Successfully secured a 50 MWh pilot project with Salt River Project, marking the first commercial deployment of the new technology.
• Completed a $40 million financing with Yorkville Advisors, enhancing financial stability and paving the way for upcoming manufacturing and project execution.
• Launched a $75 million at-the-market equity program to support future growth and operational needs efficiently.
• 100% of active business opportunities now center around the energy-based platform, indicating strong market interest and alignment with strategic goals.